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Old 01-18-2006, 07:31 PM   #1
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Lakewood90712's Avatar
Join Date: Jul 2005
Posts: 1,150

Got hit with an audit for 2003, (Did not use tax software that year) , turns out that* I had made some errors .* * It forced me to really look at my brokerage statements.

When the smoke all cleared , I was due a small refund on an ammended return .
Not exactly what the folks at IRS Compliance and Enforcement like to do.

Had to file a case in tax court. (IRS did a 180 turn the day after they were served by the tax court)

Lot's of hassle dealing with "Tax Examiners" on the phone.

I found most of the low level people at the IRS are honest and hard working , but training is poor and they are not allowed to think .

BTW, I work in gov't.

When I say training is poor, 4 out 5* tax examiners did not know what a DRIP is and how shares are obtained this way.

At least it's over and I ended up with a few extra bucks.
(Uh-oh , I could be on the IRS list now )


“The finance industry is 5% rational people and 95% shamans and faith healers.” - Charlie Munger
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Old 01-18-2006, 07:46 PM   #2
Thinks s/he gets paid by the post
maddythebeagle's Avatar
Join Date: Jun 2005
Posts: 2,450

Hey John:

Could you add more to your story. Did you sell a lot of stock that year that they had issue with? Any drip records that they had issue with?

- Hurry! to the cliffs of insanity!
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Old 01-18-2006, 07:52 PM   #3
Give me a museum and I'll fill it. (Picasso)
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Join Date: Dec 2003
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Originally Posted by Lakewood90712
training is poor and they are not allowed to think .
Unlike the private sector, where training is poor and they are not able to think.

The good news for those workers is that they dont have to spend a lot of time thinking about the pensions they arent going to get...
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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